- Thread starter mido
- Start date
Online Payment Shopping Cart - How in DR
Are payments Dominican CC's in RD$ or international cards in US$?
Once I know this, I can advise.
So how do you avoid double taxation?
Normally you can only have a business account in a country which takes CC payments if you pay taxes automatically when accepting the payments, but your business is here.
Mostly foreign international CC's in US$ or Euros, so I guess if a Dominican pays with his international CC it would be the same.
Problem with PayPal for the DR is that you can't add a DR bank account. Good luck with getting the money off PayPal. Unless you have opened a PayPal account outside the DR and have attached a bank account from that country.
What's possible is to look at lawyer and accountant companies in the British isles or set something up with a lawyer in the US. There are possibilities but it's going to be complicated. Having a merchant account with a DR bank would be the best thing. And yeah, you loose your tax straight away. Try to ask your local bank to provide you with a CC terminal.
Be careful with PCI compliance as taking and storing CC info from your website and processing it on the terminal could have some implications if you're not PCI compliance.
I think it's possible with authorize.net to do the payments on your behalf if you have a merchant account with your local bank. They will handle fraud protection as well.
What's possible is to look at lawyer and accountant companies in the British isles or set something up with a lawyer in the US. There are possibilities but it's going to be complicated. Having a merchant account with a DR bank would be the best thing. And yeah, you loose your tax straight away. Try to ask your local bank to provide you with a CC terminal.
Be careful with PCI compliance as taking and storing CC info from your website and processing it on the terminal could have some implications if you're not PCI compliance.
I think it's possible with authorize.net to do the payments on your behalf if you have a merchant account with your local bank. They will handle fraud protection as well.
Paypal does have an option whereby they send you a debit card that you can use at any ATM to withdraw the money in your Paypal account. Of course, you're paying the Paypal fees to accept the payment, and then you'll pay the ATM fee, but it's an option.
AE
AE
I have a US Corporation. The money flows through it with no profit. It pays no corporate taxes, has no employees, needs no CPA to do taxes, is Delaware based and costs $150 a year to maintain.
Thanks for your information. So you think authorize.net would handle the payments if you have a local merchant account, interesting.
Taxes get taken out of the payment everywhere you go, so no big deal. Ho do you handle refunds and taxes?
Why does our bank not know these answers?
Forget having a local merchant account in the DR, the banks here are years behind the USA, Europe etc in this respect. VisaNet ,Cardnet and the intermediaries here like Aviso Tech are real expensive and a pain to deal with.
You can either get an off-shore merchant account or one in the USA or Europe. You have hundreds of options, just shop around for rates and make sure you read the small print. Especially setup, gateway, monthly and per transaction fees etc.
You should be look at the following to start with for online:
- 2% fee or less
- 0.20c or less per transaction
- US$8 gateway or less
- US$8 monthly or less
- no set up fee
- no statement fee
Most will negotiate based on volume and if you shop around you will get better than above. You should also look at any additional fees for card scrubbing (fraud check) etc. Also if you're high risk, adult, gambling, travel etc.
They will pay you via direct deposit, check, PayPal, Western Union, all depends on the merchant.
You also have lots of 3rd party solutions like 2Checkout, WorldPay etc.
Lots of ways to handle the taxes as well. Feel free to PM with some more specific details and I can help you find a more specific solution.
I have a lot of experience in dealing with local options, Cardnet, Visanet and the 3rd parties in-between here, plus getting a merchant account in the USA as a foreign national etc.
Learn from my pain
You can either get an off-shore merchant account or one in the USA or Europe. You have hundreds of options, just shop around for rates and make sure you read the small print. Especially setup, gateway, monthly and per transaction fees etc.
You should be look at the following to start with for online:
- 2% fee or less
- 0.20c or less per transaction
- US$8 gateway or less
- US$8 monthly or less
- no set up fee
- no statement fee
Most will negotiate based on volume and if you shop around you will get better than above. You should also look at any additional fees for card scrubbing (fraud check) etc. Also if you're high risk, adult, gambling, travel etc.
They will pay you via direct deposit, check, PayPal, Western Union, all depends on the merchant.
You also have lots of 3rd party solutions like 2Checkout, WorldPay etc.
Lots of ways to handle the taxes as well. Feel free to PM with some more specific details and I can help you find a more specific solution.
I have a lot of experience in dealing with local options, Cardnet, Visanet and the 3rd parties in-between here, plus getting a merchant account in the USA as a foreign national etc.
Learn from my pain
Forget having a local merchant account in the DR, the banks here are years behind the USA, Europe etc in this respect. VisaNet ,Cardnet and the intermediaries here like Aviso Tech are real expensive and a pain to deal with.
You can either get an off-shore merchant account or one in the USA or Europe. You have hundreds of options, just shop around for rates and make sure you read the small print. Especially setup, gateway, monthly and per transaction fees etc.
You should be look at the following to start with for online:
- 2% fee or less
- 0.20c or less per transaction
- US$8 gateway or less
- US$8 monthly or less
- no set up fee
- no statement fee
Most will negotiate based on volume and if you shop around you will get better than above. You should also look at any additional fees for card scrubbing (fraud check) etc. Also if you're high risk, adult, gambling, travel etc.
They will pay you via direct deposit, check, PayPal, Western Union, all depends on the merchant.
You also have lots of 3rd party solutions like 2Checkout, WorldPay etc.
Lots of ways to handle the taxes as well. Feel free to PM with some more specific details and I can help you find a more specific solution.
I have a lot of experience in dealing with local options, Cardnet, Visanet and the 3rd parties in-between here, plus getting a merchant account in the USA as a foreign national etc.
Learn from my pain
Thanks!!!
That is what I was looking for. First thing is don't bother with local banks anymore. I will pm you later.
Last I know, and I used to work for PayPal up to a month ago, that debit card is only available in the US and as a trial to certain PayPal business accounts in Italy.
PayPal debit/ATM card is available only to US (and maybe Canada??) based PayPal accounts, and that so only after your 6-months of account history with PayPal. If you have a US PayPal account in order to make serious business with PayPal you need to get verified. One of the verification steps is the US bank account and/or US issued credit card. If you have neither it's hard to get US based PayPal account and if you do you will be unverified, seriously hindering your ability to make PayPal transactions.
Authorize.net will work only with US based merchant account, or better to say, with US based acquirers.
For an online business that will charge in pesos, but has a US-based merchant account and US-based payment processor, what do you suggest?
My main concern is that I need to convert the total (in pesos) to US dollars (for the processor), and the CC-issued bank then converts that total (in US dollars) back to pesos. And I know for a fact that the two amounts in pesos will never be the same.
My main concern is that I need to convert the total (in pesos) to US dollars (for the processor), and the CC-issued bank then converts that total (in US dollars) back to pesos. And I know for a fact that the two amounts in pesos will never be the same.